Salvadoran Construction Chamber requests $375 million

The group proposes that housing and public works be reactivated in order to face the crisis and revive the economy.

Tuesday, November 18, 2008

Yesterday, the Salvadoran Construction Chamber (Casalco) proposed a preliminary plan (Law of Preferential Interest Rates), which would require $375 million for housing which would be financed by commercial and state banks.

To accomplish this, they proposed that 60% of the amount, that is $225 million, be financed by commercial banks and $150 million by state banks.

More on this topic

Credit restrictions affecting Salvadoran productive sector

October 2008

Producers Associations in El Salvador expressed concerns about the tightening of credit policies.

The Corporation of Exporters of El Salvador (Coexport) has detected more restrictions for new credit and for refinancing. "The processes are stricter, especially for new clients and those who are in default," said Silvia Cuellar, executive director of Coexport.

Guatemala: Companies Seek Credit Abroad

July 2010

Local companies have taken out loans with foreign banks worth approximately $1.2 billion.

The head of the Guatemalan Banking Regulator (SIB), Édgar Barquín, indicated that the loans mostly come from Panama and the USA.

"According to Barquín, one of the reasons companies have looked elsewhere for credit is that they have found better terms abroad, such as lower interest rates or less strict requirements".

Guatemala expects 73% reduction in lines of credit

January 2009

According to projections for 2009 by Banguat, lines of credit from abroad could fall to $50 million. reports on its webpage: "The Central Bank indicates that in 2008 correspondent banks made $188.2 million (Q1,411.5 million) available to the national banking system, however this year it could be only $50.0 million (Q375.0 million), a reduction of 73.6%.

Panama: Banking Credit Boom Continues

February 2014

Between January and November 2013, Panamanian banks gave out 14% more loans than in the same period of 2012.

Statistics from the Superintendency of Banks of Panama (SBP), reveal that during the first 11 months of 2013, the National Banking System (SBN by its initials in Spanish) gave out 14% more loans than in the same period of 2012, with its balance being $24.8154 billion.

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